Flip through the latest issue of Gulf Weekly.
Gulf Finance House announced that it has made a formidable start to 2008 with a net profit of $116 million, which is an increase of 61 per cent as compared to Q1 of the previous year. This quarter's result has also exceeded the strong fourth quarter results of $108 million for 2007.
GFH also recorded a healthy rise in assets this quarter, reaching $2,577 million, up by 14.8 per cent compared to the previous quarter, while shareholders' equity reached $790 million.
Announcing the results, GFH chairman Esam Janahi said: "2007 underlined the strength of our business model, delivering high value economic infrastructure projects that offer unparalleled investment opportunities to our clients. In the first quarter of 2008 we've built on these strong foundations, and both clients and financial institutions continue to demonstrate strong confidence in GFH's projects."
